ISLAMABAD - Employees Old Age Benefits Institution (EOBI) has managed to receive pension fund of over Rs 13 billion from registered employers which is 20 per cent more as compared to that of the previous year.

Chairman EOBl Ayub Shaikh on Friday informed a meeting that 5,000 new employers and their employees were brought in to the pension net.    

The meeting, chaired by Minister for Overseas Pakistanis and Human Resource Development, Pir Syed Sadaruddin Shah Rashidi, was held to review annual performance of EOBl.

He lauded the efforts of Pir Sadaruddin and said the new management did all for introducing reforms and maintaining hegemony of merit as results are very encouraging.

Assets of the organization have risen to Rs 31 billion, and managerial expenditures have been brought down to 37 per cent as compared to past year.

The Chairman also gave indication of a new system in place for old people that would mitigate their sufferings and they will not have to wait in long queues for hours for getting pension. They will be able to withdraw their money through ATM cards whenever and from wherever they want, he said.

He said the EOBl has introduced a transparent recruitment system as per directions of the minister to fill in 295 seats.

Pir Sadaruddin appreciated role of EOBI for facilitating the workers and showed complete satisfaction over its performance.